Palm Beach Gardens-based AW Property Co. picked up a West Palm Beach office building for $10.2 million, county records show.
An affiliate of Boca Raton-based Pebb Enterprises sold the 1.5-acre property at 1401 Forum Way. The Horizons Office Building was constructed in 1985. The Class B office building is eight stories tall and includes an attached three-story parking garage, according to LoopNet. It’s on the northeast corner of Palm Beach Lakes Boulevard and Forum Way.
The 119,579-square-foot tower last sold in 2011 for nearly $5.4 million, according to Palm Beach County property records. Before that, it sold for $10.7 million in 2006.
AW Property financed the deal with a nearly $8 million mortgage. Rialto Mortgage Finance LLC is the lender. Brian K. Waxman, AW founding partner and managing director of investment management, signed the loan. The real estate investment and operating company specializes in medical and professional offices throughout Florida. It has regional offices in Miami, Fort Lauderdale, West Palm Beach and Fort Myers.